Several years ago, Majestic visa purchased an account I had with Fingerhut. I really didn't have too many problems with em except for the fact that they went up on my interest rate for no apparent reason. Since I didn't want to pay the high interest rate, I set myself on a schedule to pay them off. Upon paying them off, because I had automatic payments set up to go out of my account, I overpaid them. Upon receipt of my next statement, the following statement was on my account "your credit balance reflected on this statement will be forwarded to you upon receipt of request and current address." well, I called to tell them that I want my money back. The person who answered the phone verified my identity and asked for updated phone numbers. I told him that the account was closed by them, I have paid them off so there was no need to update my information. I proceeded to tell him that I made an overpayment and I want my money sent back to me at the address that has been listed on my account throughout the duration of our relationship. They proceed to tell me that I have to send something in writing requesting my money and verifying my address in order to get a refund. I asked what the purpose of sending it in writing sheen they just verified my mothers maiden name and zip code. They proceeded to say it was because I wanted a refund (keep in mind THEY closed the account even though I was about 1 week late in about 7 years). They say it will take several weeks after I send the request to get my refund during which time I will of course receive no interest while they hold onto my money.. This is just a scam to hold onto my money as long as they can. I've read some pretty bad things about Majestic on ripoffreport.com before so I was totally surprised but wanted to forewarn others of this companies skeptical procedures. Good luck if you already do business with them and don't get involved with them if you aren't already involved with them.